A common rule of thumb is to budget around 1-2% of the property's value annually for maintenance.Management Fees: If you plan to hire a property manager or use a property management service, factor in their fees as part of your operating costs.Contingency Fund: Always include a contingency fund in your budget to account for unexpected expenses or fluctuations in operating costs.Financial Modeling Tools: Consider using financial modeling tools or spreadsheets designed for real estate investment analysis.

The cap rate can help you to do an apples-to-apples comparison in your market.

Now I see that county posted list of exceeded funds and for this property there is $20k-$5k= $15k remaining balance and bidder can claim.

Out of state Investors who have appetite for the NY area market and surrounding should reach out. 

If I'm you I would focus on getting a long-term rental property and learn the market that you are investing in.

With DSCR loans you'll typically be able to get up to 80% of the purchase price and the majority of lenders will include the taxes and insurance into your monthly payments so that you don't have to worry about setting funds for that aside over the years as a landlord.

Was curious to know, what websites you all use to analyze real estate market trends and themes within specific submarkets.

But currently my goal is only to continue to buy maybe 1-2 off market holding/investment properties a year, so I generally didn't use these services enough to continue the subscription for long.

What kind of funds did you get scammed for?

Hi Lawrence, Here's my short advice check Due Diligence, Understand Owner Financing Terms, Seek Professional Guidance, Market Research, Financial Analysis, Risk Management, Long-Term Vision.